Pi42 & Hashed Emergent Study: Female participation strengthens, with women emerging as one in eight traders on the platform
FinTech BizNews Service
Mumbai, April 4, 2026: India has consistently ranked high in global cryptocurrency adoption,
particularly in rural and semi-urban regions. The country's tech-savvy youth and a thriving digital
economy are the key drivers of this growth. The findings by Pi42, India's leading crypto-INR
perpetual futures & options exchange, and Hashed Emergent, a Web3 platform with the largest on-
ground presence in India, reflect a similar trend. The data reveals that Gen Z traders are dominating
the INR derivatives trading space, with 61% of all new traders in the age group of 18-25 years.
Moreover, participation of women grew by 20% year-on-year. As a result, women now account for
nearly one in eight traders.
The study shows that average trade size on the platform has nearly doubled from approximately
$1,051 in 2024 to around $1,960 more recently, pointing towards increasing investor confidence and
higher conviction trading strategies. At the same time, trading frequency has risen sharply, with
nearly 60% of active traders now participating in daily trading activity compared to about 45%
earlier. Besides, nearly one in four crypto derivatives traders on the platform have reported booking
profits, suggesting improving awareness around trading strategies and risk management among
retail investors.
East India leads with nearly 32% of retail investors, with Arunachal Pradesh, Assam, and Meghalaya
emerging as the top three states in the region, followed by North and Central India, which have
doubled in 2025. This regional distribution underlines how crypto-INR futures trading is flourishing
beyond traditional metro cities, with Tier 2 and Tier 3 states emerging as strongholds for retail
trading activity.
Speaking on the report, Avinash Shekhar, Co-Founder & CEO of Pi42, said, “These trends signal a
clear shift in how Indian investors are engaging with crypto derivatives. Even amid ongoing global
macro and geopolitical uncertainties, trading activity on the platform has remained resilient, with
investors continuing to increase participation, trade sizes and overall conviction. We are seeing
young, digitally native users adopt more strategic and informed trading approaches, while adoption
from emerging regions is accelerating at a strong pace. This momentum reflects a structurally
expanding market where INR-based derivatives platforms can play a meaningful role in improving
accessibility, enabling wider participation and supporting the long-term growth of India’s digital
asset ecosystem.”
Speaking on the report, Tak Lee, CEO and Managing Partner of Hashed Emergent said, “India's
crypto derivatives market is undergoing a structural shift. When over 60% of new traders are under
25 and regions like Eastern India are growing at 6x, it tells us this is no longer a niche, metro-driven
phenomenon. Derivatives are becoming the entry point for a new generation of digitally native
investors, and the data suggests we are still in the early innings of this adoption curve.”
